What do I Need to Know to Start an Online Business?

What do I Need to Know to Start an Online Business?”,What is the best training to start an online business?” I received a lot of questions from time to time about how he or she can start an online business online. I am going to answer them in this post.

Starting your own online business is one of the most effective ways to take control of your life and spend more time with your family (especially parents with children).

What do I Need to Know to Start an Online Business

I too shifted my focus to doing online business because I wanted to spend more time with the people I love and do things that I wanted to do. I have shared some of my stories on how I got myself into building an online business in my previous post – How To Make Money While Traveling.

Here, I am going to let you know where you could access the information to build your first online business.

Before that, there are a few things you need to know before you start an online business.


What do I Need to Know to Start an Online Business?

Almost everyone can build an online business nowadays with the availabilities of blogging platforms, plugins, forums and online training centers.

But why some people fail and some makes $20,000 per month?

Starting with Wrong Expectations

Many people think that running an online business is as easy as getting a website built and publish content. In fact, most people have the wrong perceptions about running an online business due to the presence of cyber scams that often say “make $xxxxx with just a few clicks”.

Running a successful online business requires a lot of commitments and self-discipline. One should not expect he or she can become a millionaire overnight or within a short period of time.

What do I Need to Know to Start an Online Business 1

If you are really serious about starting an online business, you should expect no income within the first three to four months.

More than 90% of all internet business start-ups fail because they have the wrong ideas about internet marketing and how it works. They expect to get rich quick and able to make a killing overnight retire for the rest of their life. That is why they gave up on their websites and move on with their nine-to-five jobs.

Focus and 100% Commitment

Don’t get me wrong here, I am not saying that you can’t get rich quickly with a proper business model, I am just saying you need to focus and invest your time to build an online business that generates sustainable income.

When I first got involved in internet marketing, I used to spend a lot of my time on forums, reading blogs and get myself trained from going through webinars.

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From time to time, I was distracted by the new tactic that promised to make rich with no effort on my part. I admit I made a few mistakes at the beginning and I want to let you know that you should never run an online business like that. You should always have a goal and focus on the big picture goal.


What do I Need before I Start an Online Business?

Business Model

Finding a niche (topic) is important as you are going to spend most of the time writing about it. The niche should always be something you are good at and something you are passionate about. When you love your niche, you will not have any problem in producing valuable contents to your readers.

Whatever niche you choose, you are going to need deep subject knowledge and convince people that you know your stuff.

However, passion is not enough!

You will need a business strategy and system that is repeatable, reliable and automated. You need an online business blueprint that will help generate revenue from your website.

I have covered that in Ways to Make Money At Home.

What do I Need to Know to Start an Online Business?

Overcome Your Fear

If you have no experience in starting a new online business or running an online business, don’t worry too much about it. Just like anyone else, we all knew nothing before we started.

I struggled a lot with the same fear before I built this website. I did not know how to build a website from scratch and have no idea at all how to monetize my site.

To overcome your fear, you have to take the first step and make mistakes. In order to minimize your mistakes along the way, it is essential to talk to the blogging experts and get help.

Do Not Do It Alone

I always recommend people to join a community or forum in order to get help and discuss your problems with others as you run an online business. I joined WA community in which I got a lot of tips and advice from this active group. Not only that, they have always been very supportive in guiding me along.

I almost gave up and wanted to start over with something else at the beginning, friends from that community wouldn’t let me. They talked me out of it.

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Everyone needs friends and support, especially from those who have enormous experience in running online businesses. You need friends or a group of experts to help you out.

The more you get connected with the other experts, the faster you will succeed. Many people failed because they did it on their own. By communicating with those who have been through the same obstacles, you will realize you are not the only one who make the same mistakes.

Become a community member of WA and do not do it alone.


What is the Best Training Platform to Start an Online Business?

Everyone can start an online business with a proper guidance and training. I always recommend people to attend online training courses because you can benefit from continued education.

Whether you are a newbie or already an experienced blogger, signing up for online courses is always a good move to improve your knowledge and to keep yourself informed of the most updated  SEO tactics.

Those who has not signed up for my FREE email course often ask where and what is the best training platform to start an online business.

There are many internet marketing courses available online, and one that I like is Udemy. However, I often find the courses available in Udemy are expensive and almost all of them are very specific on certain topics.

The other one that is always my top choice is Wealthy Affiliate. You can read my review on this online training platform and find out more about their weekly webinars, basic training courses and boot camp courses.

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It is Your Turn Now.

This is my list based on my experience. Is your list different? Do you have any other things that the newbies should know before they start building their online business?

Please share your thoughts in the comments below. You might help someone avoid making silly mistakes. If you think this list is helpful, please share it!

What do I Need to Know to Start an Online Business?

Alex Y

Alex is the owner of Managing Your Finance. He helps newbies start their own online businesses. Sign up for his 7-Day Free training course and learn how to start making a sustainable income online and quit your 9-to-5 job.

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4 Responses

  1. Alma says:

    Hi Alex,
    I love this article, it’s full of great stuff and useful tips. Thanks a lot for sharing all this knowledge with us.
    There are lots of people who need more time to spend with their families but can’t do it because their office jobs take up too much of their time. However, by applying your suggestions anyone can build a second income from home then make it grow till the money is enough and they can quit their office jobs.
    I warmly recommend everyone who reads your posts to give it a try and start earning legit money online!
    My favorite way is the one outlined in your #1 Recommendation page. I’d love to leave a comment there too, please let me know when you’ll allow them there as well.
    Thanks again, and wish you success!
    Alma

    • Alex Y says:

      Hello Alma,
      I am so happy that you enjoy reading my articles.

      I do believe someone who has the will power can also be live like me. As long as you take actions and work along with the experienced and the right people, you will definitely get there. I envied the lies of free travellers too before I started. I did not expect I could achieve my goal and become an affiliate marketer.

      If you are keen to live my life, you should sign up for my free email course and work along with me.

      Of course, you could leave a comment on any articles of mine. I am happy to receive your feedback and thoughts. Let me know and I hope to work with you.

      Alex

  2. Clara Sthepen says:

    Do business online, only limited on Wealthy Affilate? I did a lot of reading about the greatness of Wealthy Affiliate. But sometimes, I also scared after hearing the story of my freinds who’ve cheated others with affiliate business model.

    • Alex Y says:

      Hi Clara, I understand what you mean here. I was scammed a few times before and I was once skeptical about wealthy affiliate training platform too. What makes it a little different from any other training platform is it allows us to try it for free. Unlike other programs where you only realize they are scams after swiping your credit card. Secondly, it’s so much cheaper as compared to any other fake programs. Thirdly, it’s proven as it works for someone who had no experience in SEO and affiliate marketing.

      Hope my answer helps.

      Alex

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